FX:AUDNZD   Australian Dollar / New Zealand Dollar
As of now it is still not clear whether we are in a flat correction or not. It could be that all of the correction of the impulse up was the Zig-Zag ABC highlighted on the chart. Should that be the case then I'd only be looking for a move down to the 1.054x level. If the pair makes one last move up and breaks/retests the 1.142x level that constitutes a bigger correction and therefore I'd be looking for a move down to the 1.023x level and consequently a mere 1200 pip target.

My personal details:
Short @ Entry: 1.1425, SL: 1.1505, TP1: 1.0546, TP2: 1.0235, RR: 14

For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment: Downside to continue? Break and retest of a key structure level + Price Action showing weakness
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out